How do I correct my UTI/Counterparty?

When a party submits a trade with the incorrect UTI:

If a party submits the incorrect UTI, they must submit a message with that UTI and an [Action type] of "EROR" for that UTI and resubmit the swap as a new message ([Action type] of "NEWT" ) with the correct UTI. When the correct UTI is submitted it will be considered a new trade and if it is submitted after the required reporting timelines, will be classified as a late report.

The incorrect UTI may be referenced in the [Prior UTI] field. 

When a party submits a trade with the incorrect Counterparty 2 or 1:

The Reporting Counterparty nor other counterparty LEI may be updated by a submission. In the event the incorrect LEI was submitted the UTI must be Errored ([Action type] of "EROR"), and a new swap reported ([Action type] of "NEWT" ) with a new UTI.

The incorrect UTI may be referenced in the [Prior UTI] field. 

In the event of a corporate action updates a UTI, the Reporting Counterparty must notify KOR SDR. KOR SDR shall validate the change on GLEIF and update the LEI on all applicable records.